Oct 23 2007
YES! Apple did it again. Apple saved the day. Apple is incredible. What a wonderful Apple stock. You simply got to love Apple Inc. and Steve Jobs. I might sound exaggerated with all the praises for Apple but it’s simply lovely. Not only it re-injected the optimism into the stock market especially Nasdaq, it also revitalizes the rest of the technology stocks, especially Google Inc.
For the three months that ended Sept. 30, Apple Inc. (Nasdaq: AAPL, stock) said on Monday (after market closed) it earned $904 million, or $1.01 per share, compared with $542 million, or 62 cents per share, in the year-ago quarter. Revenue totaled $6.22 billion, compared with $4.84 billion in the same quarter last year. This easily beat by a wide margin the expectations of analysts polled by Thomson Financial, who predicted earnings per share of 86 cents on sales of $6.07 billion.
Apple said it shipped a record 2.16 million Macs in the quarter, an increase of 34 percent, while it sold 10.2 million iPods, up 17 percent. In the first full quarter of iPhone sales – a number many on Wall Street were waiting for – Apple said it sold 1.12 million units, bringing the cumulative total to 1.39 million since the product debuted on June 29. Sales of the iPhone picked up in September after Apple knocked $200 off the price of the 8-gigabyte model, bringing it down to $399.I believe what actually excited the stock price was the fact that iPhone sales figure was fantastic considering that the highly successful iPod took Steve Jobs’ team a whopping two years to arrive at the number achieved by iPhones (within 3 months). I guess the tactic of slashing iPhone’s price worked after all. Investors now are upbeat that iPhone will be another lucrative cash-cow for the Apple Inc.
Apple reiterated Monday its previous target of selling 10 million iPhones in 2008, helped by the launch of the iPhone in Europe next month, then in Asia next year. Some analysts are betting that Apple’s earning might continue to grow materially at a 50 percent annually for the next three year. The higher guidance issued by Apple that said for the current quarter it expects earnings of about $1.42 per share on revenue of about $9.2 billion also help in pushing the stock price higher during after-hours trading. Analysts on average had been expecting earnings of $1.39 per share on sales of $8.58 billion for the current quarter.
Apple stock price rose $3.94, or 2.3 percent, to close at $174.36 and after the earnings report, the shares happily climbed about $12, almost 7 percent, in extended trading. So to the FinanceTwitter readers who have positions in Apple Inc. (stocks or options) – Congratulations!! I just hope there’re tons of short-sellers rushing in to cover their positions as this could push the Apple stock price higher when the market opens on Tuesday.
Now, do you think Apple can cross the $200 a share since it breached the $150 level on 26th Sept, the same way Google Inc. is aiming for $700 after breached the $600 level?
Apple stock price rose $3.94, or 2.3 percent, to close at $174.36 and after the earnings report, the shares happily climbed about $12, almost 7 percent, in extended trading. So to the FinanceTwitter readers who have positions in Apple Inc. (stocks or options) – Congratulations!! I just hope there’re tons of short-sellers rushing in to cover their positions as this could push the Apple stock price higher when the market opens on Tuesday.Now, do you think Apple can cross the $200 a share since it breached the $150 level on 26th Sept, the same way Google Inc. is aiming for $700 after breached the $600 level? Other Articles That May Interest You …
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October 23rd, 2007 by financetwitter
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